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Binance vs. KuCoin

We've tested over 50 apps to find the best platforms. Read our reviews to find the best crypto exchanges in 2022.

Updated August 2022   |  Affiliate Disclosure

There are 500+ crypto exchanges but KuCoin and Binance are some of the most popular choices around the world. In this review, I compared over 40 variables ranging from fees to features to funding methods to security and much more. Look through this post to find out which platform is better for you.

The Bottom Line

Both platforms look and feel very similar but Binance is significantly bigger when it comes to trading volume. Binance had $13.5 billion in trading volume, 600+ coins and 0.10% trading fees. KuCoin had 700+ coins, 0.10% trading fees and only $1.87 billion in trading volume. 

If you want lower fees and spreads, use Binance. However, if you want to trade without KYC, use KuCoin.

Summary:

  • Both platforms look very similar when it comes to user interface, security and features
  • Both platforms have billions in daily trading volume, but Binance is substantially bigger
  • KuCoin is easier to get started and lets you deposit, trade and withdraw crypto without KYC
  • Binance supports 8 fiat wallets, KuCoin does not have any fiat wallets

Video Review

Here is my video review published on Feb 1, 2022. Some info could be out of date so refer to the rest of the blog post as well.

Binance

About Binance

Binance is the largest crypto exchange in the world by trading volume, has 0.10% trading fees, 600+ coins, and dozens of features. It's best used for trading coins for low fees and spreads.

Pros & Cons

  • Lowest fees and spreads in the industry (largest exchange in the world by trading volume)
  • 600+ altcoins and lots of features
  • Great reputation
  • 8 fiat wallets and fiat trading pairs
  • Not beginner friendly
  • Restricted in some geographies
Kucoin

About KuCoin

KuCoin is almost exactly the same platform as Binance but with less trading volume. It has 500+ coins, 0.10% trading fees, billions in daily trading volume and dozens of features as well.

Pros & Cons

  • Best platform for anonymous trading (only requires an email to sign up, trade and withdraw crypto)
  • 700+ altcoins and lots of features
  • Low spreads and fees (but less trading volume than Binance)
  • Not beginner friendly
  • Some features require KYC like fiat purchases, token launchpad and more 
  • Not licensed or regulated
  • 0 fiat wallets and fiat trading pairs

Overview

How We Tested

To collect this info, we used real, KYC-verified accounts. We then broke it down into 5 categories: Fees, Features, Deposit & Withdrawals, Security and Ease of Use.

RankFi tracks dozens of crypto products. Lean more about our methodology here.

Coins Offered

600+

700+

Total Trading Volume (Apr 16, 22)

$13.5 billion

$1.87 billion

BTC Spread (Apr 16, 22)

0.00%

0.00%

Trading Fee

βœ…

🚫

Fiat Wallets?

0.10% or less

0.10% or less

KYC

βœ…

βœ… (optional)

Beginner Friendly

βœ… (App Only)

🚫

Advanced Trading

βœ…

βœ…

BTC Withdrawal Fee

0.0005 BTC

0.0005 BTC

Headquarters

Remote Company

Seychelles

πŸ’° Promotion

10% off trading fees forever and up to $100 free

10% off trading fees

Sign Up

πŸ“± Features

Best Features Overall

βœ… Winner

Cell

Number of Features

30+

20+

Coins

600+

700+

Mobile App

βœ…

βœ…

Web App

βœ…

βœ…

Beginner Trading

βœ… (App only)

🚫

Advanced Trading

βœ…

βœ…

Staking

βœ…

βœ…

Lending/Borrowing

βœ…

βœ…

Other Rewards

βœ…

βœ…

Crypto Credit Card

βœ…

🚫

Margin Trading

βœ…

βœ…

Futures

βœ…

βœ…

OTC

βœ…

🚫

Native Token

βœ… (BNB)

βœ… (KCS)

Affiliate Program

βœ…

βœ…

24/7 Support

βœ…

🚫

Sign Up

πŸ’° Fees & Spread

More Information

Both platforms were tested on Mar 16, 2022 at the same time and numbers are subject to change.


Best Fees Overall

βœ… Winner

Cell

24hr Trading Volume (Mar 16, 2022)

$13.50 Billion

$1.87 Billion

Trading Fee

0.10% or less

0.10% or less

Trading Fee Discounts?

βœ…

βœ…

Spread (BTC)

0.00%

0.00%

Ref. Price Difference

Buy: -0.12%

Sell: -0.12%

Buy: -0.30%

Sell: -0.30%

BTC Buy Price (After Fees)

$41,212

$41,135

BTC Sell Price (After Fees)

$41,212

$41,135

Reference Price (Google)

$41,261

$41,261

Sign Up

🏦 Deposits & Withdrawals

Best Overall

βœ… Winner

Cell

Fiat Wallet Currencies

(AUD, EUR, GBP, RUB, BRL, TRY, UAH, NGN)

0 (not supported)

Instant Buy Currencies

40+

90+

Credit Card

βœ…

βœ…

P2P Exchange

βœ…

βœ…

Withdraw Fiat Currency

βœ…

🚫

Fiat Withdrawal Limit (24hrs)

Verified: $50k

Verified Plus: $200k

🚫

Crypto Withdrawal Limit (24hrs)

100 BTC

Unverified: 1 BTC

Verified: 200 BTC

BTC Withdrawal Fee

0.0005 BTC

0.0005 BTC

ETH Withdrawal Fee

0.00625 ETH

0.00625 ETH

USDT Withdrawal Fee

35 USDT

?

πŸ”’ Security

Best Security Overall

βœ… Winner

Cell

Year Founded

2017

2017

Uses Cold Storage?

No Official Info

No Official Info

Insurance Policy

βœ… (SAFU)

βœ… (Yes)

Any Hacks or Incidents?

βœ… (2019)

βœ… (2020)

2FA

βœ…

βœ…

Address Whitelisting

βœ…

βœ…

View Login History

βœ…

βœ…

Crypto Withdrawals Allowed

βœ…

βœ…

KYC

βœ…

βœ… (Optional)

Publicly Traded

🚫

🚫

Headquarters

Remote Company

Seychelles

User Interface

Binance

Binance App Home
Binance App Trade
Binance App Trading

KuCoin

Binance or KuCoin?

Both platforms are great choices and industry leaders. Binance is the better pick if you want a larger platform with more liquidity. KuCoin is better if you want to trade without KYC and have slightly more altcoins.

KuCoin and Binance both have 600+ coins, 0.10% trading fees, dozens of features, and billions in daily trading volume. However, Binance has significantly higher trading volume and more features overall. KuCoin is better if you want to trade without KYC.

Reasons To Use Binance

  • Lower spreads and overall fees (Binance is the biggest exchange in the world for trading volume)
  • 600+ cryptocurrencies and dozens of features like staking, derivatives, visa cards, loans, and more
  • Binance supports 8 fiat wallet currencies with trading pairs (KuCoin has 0)
  • Binance app has "Lite" mode which is beginner-friendly trading

Reasons to Use KuCoin

  • Trade without KYC (it's easier to get started, all you need is an email) - You can deposit and trade crypto and withdraw up to 1 BTC every 24 hours
  • Binance is restricted in some regions, KuCoin is available everywhere
  • 500+ cryptocurrencies and dozens of features like trading bots, staking, derivatives, loans, and more
  • Still has low fees and spreads relative to the rest of the industry (but it's smaller than Binance)

Sign Up:

Binance

Get 10% off trading fees forever and up to $100 free

Kucoin

Get 10% off trading fees

πŸ”Ž Compare More Crypto Exchanges

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RankFinance


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